Marijuana Sales to Fund Higher Education

Weed and higher education.  Goes together like… peanut butter and… Ok, maybe not.  But maybe they will.  Soon.

Scholarships & Higher Education

The legalization of marijuana has created scholarship opportunities for the students of Pueblo, Colorado.  The addition of a 5% excise tax on the suppliers of marijuana in the state have made this possible. Each year, 50% of this tax will be set aside for the higher education scholarships.

The plan is slated to come into effect in 2017 and the tax on marijuana will progressively increase until it reaches the 5% mark.  By 2020, the expected totals of the tax are estimated to be $3.5 million.

Cannabis Controversy

Journalists call it a contradiction. Schools fighting to decrease cannabis use while harnessing pot sales to underwrite higher education. Overall, the consensus is supportive of pot tax for college. Taylor West, Deputy Director at the National Cannabis Industry Association, on the business end of marijuana, insists that suppliers are enthusiastic that they can contribute to the “overall economic community.”

For the city of Pueblo, 22% of the state’s pot is produced in the county, with 3% contributing to sales. The people supporting this bill are residents as well as growers and legislators. Approval ratings were at 60%.  Sounds like a pretty sweet deal, doesn’t it?

Comments